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Shanghai copper afternoon review on September 21

 Last Update: 2022-12-12
 Source: Internet
 Author: User

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copper 2 hydroxide

high pressure zone

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Overnight, Shanghai copper opened at 49,280 yuan / ton, the highest reached 49,390 yuan / ton, and closed at 49,380 yuan / ton, up 0.
24% from the previous day, the trading volume increased to 138,000 lots, and the position increased by 2,842 lots to 641,000 lots
.

Shanghai copper

In terms of spot, near the Mid-Autumn Festival, the inventory pressure of holders increased, seeing that the room for rising water was limited, and the initiative to reduce the premium, flat water copper was lowered all the way to 180 yuan / ton, and it is expected that today's premium is 160-200 yuan / ton
.

After the concentrated release of short-term trade war risks, copper prices began to stabilize and adjust
.
The inventory continued to decline, the domestic spot supply was tight, superimposed on the Mid-Autumn Festival and National Day holidays, the spot premium hit a new high in the year, and the near strength and far weak structure continued
.
It is expected that copper prices will show a stable rebound trend
supported by the spot end.

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